Omeros (NASDAQ:OMER) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Omeros Corporation (NASDAQ:OMER)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.21 and traded as high as $12.50. Omeros shares last traded at $12.15, with a volume of 2,065,272 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OMER shares. HC Wainwright upped their price objective on shares of Omeros from $20.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Omeros in a report on Thursday. Wall Street Zen lowered Omeros from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. WBB Securities reiterated a “strong-buy” rating and set a $45.00 target price on shares of Omeros in a report on Wednesday, October 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.33.

Omeros Trading Down 1.8%

The company has a market capitalization of $845.84 million, a price-to-earnings ratio of -5.91 and a beta of 2.38. The stock has a 50-day simple moving average of $11.67 and a 200-day simple moving average of $7.30.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Thursday, November 13th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.39. On average, research analysts forecast that Omeros Corporation will post -3.09 EPS for the current year.

Insider Buying and Selling at Omeros

In other news, CAO David J. Borges sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $12.31, for a total value of $369,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Omeros by 1.9% during the third quarter. Vanguard Group Inc. now owns 3,346,958 shares of the biopharmaceutical company’s stock worth $13,723,000 after acquiring an additional 63,381 shares during the period. Two Sigma Investments LP boosted its stake in Omeros by 39.3% in the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company’s stock valued at $3,827,000 after acquiring an additional 263,095 shares during the period. Marshall Wace LLP grew its holdings in shares of Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock valued at $2,224,000 after purchasing an additional 97,224 shares during the last quarter. Bank of Montreal Can raised its position in shares of Omeros by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 571,095 shares of the biopharmaceutical company’s stock worth $1,713,000 after purchasing an additional 8,000 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Omeros by 1,201.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company’s stock worth $1,706,000 after purchasing an additional 384,168 shares during the period. 48.79% of the stock is currently owned by institutional investors.

Omeros Company Profile

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.